Mullen Group (TSE:MTL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised its price target on Mullen Group to C$32.00 from C$25.00, implying about 12.5% upside from the current share price.
• Several other analysts also increased targets on the stock, and the overall consensus remains a Moderate Buy with an average price target of C$26.00.
• Mullen Group shares jumped 6.1% to C$28.44, near the stock’s 52-week high, after the company reported quarterly EPS of C$0.41 on revenue of C$609.3 million.

Mullen Group (TSE:MTL - Get Free Report) had its price target raised by investment analysts at BMO Capital Markets from C$25.00 to C$32.00 in a report released on Friday,BayStreet.CA reports. BMO Capital Markets' price target points to a potential upside of 12.52% from the company's current price.

Several other equities analysts have also issued reports on the stock. National Bank Financial boosted their price target on shares of Mullen Group from C$23.00 to C$31.00 and gave the company an "outperform" rating in a report on Friday. Scotiabank raised their price objective on Mullen Group from C$24.00 to C$29.00 in a research note on Friday. Desjardins lifted their target price on Mullen Group from C$23.00 to C$30.00 and gave the stock a "buy" rating in a report on Friday. Raymond James Financial boosted their target price on Mullen Group from C$17.00 to C$18.00 and gave the company a "market perform" rating in a research note on Friday, April 24th. Finally, Acumen Capital increased their price target on Mullen Group from C$20.50 to C$22.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$26.00.

Mullen Group Trading Up 6.1%

Mullen Group stock traded up C$1.64 during trading hours on Friday, reaching C$28.44. 349,788 shares of the company's stock traded hands, compared to its average volume of 283,143. The firm has a market capitalization of C$2.73 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.81 and a beta of 1.13. The company has a debt-to-equity ratio of 91.65, a quick ratio of 1.06 and a current ratio of 2.07. Mullen Group has a fifty-two week low of C$12.98 and a fifty-two week high of C$28.78. The firm's 50 day moving average is C$22.56 and its 200-day moving average is C$19.32.

Mullen Group (TSE:MTL - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported C$0.41 earnings per share (EPS) for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%. The firm had revenue of C$609.30 million for the quarter.

Insider Transactions at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the sale, the director directly owned 7,562 shares of the company's stock, valued at approximately C$162,583. This represents a 31.64% decrease in their position. Company insiders own 6.32% of the company's stock.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.

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